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Tag Archives | funeral insurance

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Syndicates commit murder, stage hit-and-run accidents to defraud life insurers

Life insurers’ fraud investigations have turned up more evidence of deathly get-rich schemes in which syndicates take out funeral insurance on victims they subsequently kill in order to submit a claim. Syndicates, particularly in the Eastern Cape, look for every opportunity to exploit, and there has been upward trend with unnatural deaths in the past […]

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fitandproper

FSCA reissues exemptions from competency requirements for certain licence categories

In February, the FSCA published FSCA Communication 4 announcing that it is exempting FSPs, key individuals and representatives who operate in the credit life and funeral insurance space from some of the Fit and Proper Requirements. Read: ‘Fit and proper’ exemptions for credit life, funeral insurance FSPs The reason for the exemptions is the “unintentional […]

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fit-and-proper

‘Fit and proper’ exemptions for credit life, funeral insurance FSPs

The FSCA is exempting FSPs, key individuals and representatives who operate in the credit life and funeral insurance space from some of the Fit and Proper Requirements. The reason for the exemptions is the “unintentional complications” that have arisen because of the reclassification of classes and sub-classes of insurance business in terms of the Insurance […]

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